Drawing comps will be a great resource and give you an accurate read on the market immediately surrounding you! 

At that point, any collected rent will be then be going to me and. my two sisters, so why would he in essence, pay rent to himself?

There are lots of resources for you around here.

After all our time is the most important resource we have. 

I now work on the investment side of real estate here in my home town and believe that I can be a resource for you here.

Also there are plenty of good resources here on BP to research your different options in investing in out of state markets.

I have enjoyed the BP forums and resources these past few months though this is my first time seeking advice.

In terms of getting started in Bigger Pockets, here are a few resources that were passed along to me:Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/p...Please reach out with any questions and good luck!!

I use Cozy.co for rent collection, along with quickbooks, but I do not use it as a full property manangment software. 

Then you will be the owner and entitled to collect payments on the purchased assets.